About This Home
This 4-bedroom, 4-bathroom residential multi family at 220 E 7th Street in Albert Lea, MN is listed for $249,900 ($89 per sqft). Built in 1949, the home offers 2,800 sqft of living space on a 0.16 acres lot.
Key Features
- Built in 1949
- 0.16 acre lot
Property Details
Exceptional 3 Bedroom 4 Bath 4-Plex located on the corner of 7th Street and James Ave. The fourth unit is a commercial space that is currently a laundry service. It was formally a salon and could be converted back to a salon or another apartment. This property has been rented continuously with a solid rental history.
Significant remodeling occurred on the property since it was purchased including new roof, medal siding, electric services, mini-splits, paint and some flooring. The property is licensed through the city and the rent is just under $3000/month. The tenants are responsible for paying their own utilities. There is ample parking on the large gravel parking lot and the 3-stall garage. This turn key property is definitely one to look at.
Monthly Cost Estimate
$1,337/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
220 E 7th Street
Albert Lea, MN 56007
Features & Amenities
Exterior Features
Property Details
Parking
Heating
Questions & Answers
This 4-bedroom, 4-bathroom residential multi family at 220 E 7th Street is listed at $249,900 ($89/sqft). The estimated monthly payment is $1,337 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1949, 0.16 acre lot. Exterior Features: Metal.
This property is listed by Lanier Pratt and can be reached at (507) 424-4422.